Skandinaviska Enskilda Banken AB publ Increases Position in Kontoor Brands, Inc. (NYSE:KTB)

Skandinaviska Enskilda Banken AB publ grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 67.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 289,000 shares of the company's stock after purchasing an additional 116,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.52% of Kontoor Brands worth $24,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after acquiring an additional 26,759 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock worth $152,564,000 after purchasing an additional 44,287 shares during the period. Geode Capital Management LLC grew its stake in shares of Kontoor Brands by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company's stock worth $98,409,000 after purchasing an additional 15,058 shares during the last quarter. Jennison Associates LLC increased its holdings in Kontoor Brands by 4.6% in the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company's stock valued at $67,651,000 after purchasing an additional 34,652 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock worth $59,559,000 after purchasing an additional 35,932 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

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Kontoor Brands Stock Up 4.5 %

Shares of KTB stock traded up $2.70 on Friday, reaching $62.21. 1,056,790 shares of the company were exchanged, compared to its average volume of 481,707. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $96.80. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.12 and a beta of 1.23. The company has a 50-day moving average of $80.66 and a 200-day moving average of $82.27. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million during the quarter, compared to analysts' expectations of $698.07 million. During the same quarter last year, the firm posted $1.28 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands's dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group reduced their price target on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company reduced their target price on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Barclays dropped their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $91.50.

Kontoor Brands Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.